Gladstone Investment Corp. (GAIN) to Issue $0.06 Monthly Dividend
Gladstone Investment Corp. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, October 12th. Investors of record on Friday, October 21st will be paid a dividend of 0.0625 per share by the investment management company on Monday, October 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date of this dividend is Wednesday, October 19th.
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) traded up 1.57% during mid-day trading on Wednesday, hitting $9.05. 79,478 shares of the company were exchanged. Gladstone Investment Corp. has a 52 week low of $6.40 and a 52 week high of $9.30. The company has a 50 day moving average of $8.93 and a 200 day moving average of $7.71.
Gladstone Investment Corp. (NASDAQ:GAIN) last issued its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Gladstone Investment Corp. had a net margin of 77.56% and a return on equity of 8.04%. Analysts forecast that Gladstone Investment Corp. will post $0.78 EPS for the current fiscal year.
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GAIN has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Jefferies Group reissued a “hold” rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th.
In other Gladstone Investment Corp. news, COO Terry Lee Brubaker sold 49,414 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $8.73, for a total transaction of $431,384.22. Following the completion of the sale, the chief operating officer now directly owns 232,598 shares in the company, valued at approximately $2,030,580.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its stake in Gladstone Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 162,379 shares of the investment management company’s stock worth $1,163,000 after buying an additional 20,652 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Gladstone Investment Corp. by 111.5% in the second quarter. Janney Montgomery Scott LLC now owns 322,946 shares of the investment management company’s stock worth $2,312,000 after buying an additional 170,249 shares in the last quarter. Raymond James & Associates raised its stake in Gladstone Investment Corp. by 31.1% in the second quarter. Raymond James & Associates now owns 21,614 shares of the investment management company’s stock worth $155,000 after buying an additional 5,124 shares in the last quarter. Nuveen Fund Advisors LLC purchased a new stake in Gladstone Investment Corp. during the second quarter worth $874,000. Finally, Van ECK Associates Corp raised its stake in Gladstone Investment Corp. by 13.1% in the second quarter. Van ECK Associates Corp now owns 128,746 shares of the investment management company’s stock worth $922,000 after buying an additional 14,912 shares in the last quarter. Institutional investors and hedge funds own 15.37% of the company’s stock.
About Gladstone Investment Corp.
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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